· Sielaff to succeed Peter Horbury, who is appointed Senior Vice President of Design at Group Lotus

· Geely Automobile Holdings Limited (HK.0175) announce approval of employee share award plan

· Board of Directors approved issuance of 350 million shares to be distributed to top performing employees

· New profit sharing plan represents Geely’s commitment to the long-term sustainable development of the company

· Profit sharing is part of Geely’s expanding employee welfare policies

2021 August 30th, Hong Kong. Geely Auto, the largest privately-owned Chinese auto brand, announced their share award scheme to award top performing employees with shares from the company. Geely Automobile Holdings Limited (HK.0175) Board of Directors approved issuance of 350 million shares to be distributed as bonuses in the future. The first batch over 167 million shares has been awarded to 10,884 top performing employees in 2021.

The new profit sharing plan showcases Geely’s commitment to the long-term sustainable development of the company. The expansion of Geely’s profit sharing plan means not only do executives have a stake in the company’s future, so will all employees. Through the policy, Geely aims to motivate employees, create long-term value, and build a shared destiny together.

Profit sharing is only one part of Geely’s expansion of its employee welfare policies. Other employee welfare policies to be announced in detail in the future include employee family health insurance, employee education and training, employee housing purchase assistance, expanded childcare benefits, and expanded maternity leave.